UK: Dairy prices up, producer prices down

Updated on 05/16/2023 Farmer milk prices remain under pressure in the UK as seasonal production increases in the face of sluggish demand. A free comparison tool launched by the UK Office for National Statistics (ONS) provides consumers with insight into how dairy prices have increased compared to 2022. From hard cheese to butter, milk and baby formula, all dairy prices monitored by the ONS have seen double-digit increases since last year. Hard cheese (44%) and cheddar (42%) saw the biggest price increases, averaging £9.98 ($12.61) and £9.29 ($11.74) per kilo, respectively, compared to £6.92 ($8.74) and £6.53 ($8.25) last year. Increases of 30% or more were also recorded for semi-skimmed milk, whole milk, soft cheese and butter. Meanwhile, Parmesan cheese and infant formula saw more moderate increases of 11% and 12% respectively. Combined, dairy saw an annual price increase of £14.31 ($18.08) – a 23% increase in 2022. Inflationary pressures continue to put pressure on the supply ...